USD: On rocky ground
Ahead of the Fed’s minutes yesterday, the US dollar remained resilient edging up ever so slightly against the euro and pound but made marginal losses this morning ahead of PMI data.
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Daily Currency Note
Stay informed. Stay in control.
Currency rates fluctuate by the second and can change by up to 10% in the space of a year. On a typical overseas money transfer, that's the difference between completing on budget and needing pay thousands more. Our daily notes keep you informed on every move in GBP, EUR and USD, so you can make confident decisions about when to lock in your rate.
Today's move
Thursday, 22 February 2024
GBP / EUR
▼ 0.17%
1.1667
A transfer of €300,000 would cost
£449 more
today than yesterday.
GBP / USD
▼ 0.49%
1.3425
A transfer of $350,000 would cost
£1,276 more
today than yesterday.
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EUR: Consumer morale boost
The consumer confidence indicator in the euro area saw a 0.6-point increase in February to -15.5, beating expectations of -16.1. Across the European Union, sentiment edged up 0.4 points to -15.8.
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GBP: Meat exports causing businesses to fork out
In a Guardian exclusive, data showed that UK food companies have paid an extra £170m to export foods of animal origin to the EU. The report also revealed that the value of meat products sent to the EU…
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Pound extends recovery following Fed minutes
After making marginal losses yesterday ahead of the Federal Reserve's meeting minutes, the euro and pound surged against the US dollar this morning, adding 0.4% and 0.3%, respectively, ahead of euro zone and UK PMI data.
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Sterling absorbs shocks and stays strong
Sterling weakened by close to 1% against the euro from its six-month high a week ago, after the governor of the Bank of England suggested that interest rates could come down before the inflation rate hit its target…
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USD: Biden’s war chest
Just as Donald Trump is forced to sell trainers to raise funds, Joe Biden had a record month for donations. The incumbent’s war chest now sits at $130mn, the largest amount raised by a Democrat at this stage…
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EUR: Von der Leyen targets second term
Ursula von der Leyen announced on Monday that she will be seeking a second term as president of the European Commission. Political figures and their appointments tend to have tangible effects on exchange rates, so her campaign will…
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GBP: A short recession
Andrew Bailey stole the headlines yesterday for his comments on interest rates and inflation, but he also made some interesting remarks about economic growth. Bailey predicted that the UK’s recession would be a short one, and that a…
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